BUSINESS

The Australian stock market was slightly weaker at Thursday noon, following a negative lead from the US markets overnight.

Copper mining firm CuDeco Ltd (ASX: CDU) said on Thursday that a major institutional investor infused placement investment of up to $20 million into the company, allowing the institution to get a 6.84 percent interest in the emerging resource industry player.

Queensland's Gold Coast is attracting international investors in the self-storage industry because of its reputation as Australia's fastest-growing city.

Australian stocks are marginally lower at lunchtime in the East, following a negative offshore lead and lack of market moving economic data. The All Ordinaries Index (XAO) is lower by 7.2pts or 0.2pct to 4667.5.

U.S. stocks slipped Wednesday, with Microsoft, Bank of America and J.P. Morgan Chase leading the decline as investors worried about the Federal Reserve's Tuesday suggestion that the economy may need additional stimulative measures. The Dow Jones Industrial Average dropped 21.72, or 0.20%, to 10739.31, breaking a five session winning streak and marking its biggest one day drop since Sept. 7.

The AUD traded solidly throughout Asia yesterday consolidating stoically above 0.9550 for most of the day.

Australian's financial positions have declined slightly, according to data released today.

Amidst allegations that the Australian Tax Office (ATO) crossed the line of decency on its Project Wickenby campaign, the office of the Inspector-General of Taxation hinted on Thursday that a review may be necessary to check on possible excesses in ATO’s conduct as it goes after alleged wealthy tax evaders.

Real estate developer CIC Australia Limited (ASX: CNB) created a number of options after announcing its interest to engage in a partnership.

Mineral explorer Navigator Resources Ltd (ASX: NAV) said on Thursday that it is entering into a trading halt following the Wednesday announcement of a collapsed pit wall on the company’s Bronzewing Gold Project, near Perth in Western Australia.

Investors and analysts have opened fire on the remuneration structure of Paperlinx.

Australia has raised its commodity exports target this fiscal year as larger demand for coal, iron ore, and wool are now at its record high assuring higher prices for domestic exporters.

Virgin Blue Holdings Ltd (ASX: VBA) got the nod this time following the series of setbacks on its proposed alliances with Delta Air Lines in US and Air New Zealand in trans-Tasman routes as the Australian Competition and Consumer Commission (ACCC) gave on Thursday its green light for the carrier’s planned collaboration with Etihad Airways.

Fears of an increase in interest rates are more intense with home loan customers.

A significant number of companies have signed up for office spaces in Perth's central business district (CBD).

Private health care provider Healthscope Limited (ASX: HSP) faces another threat, but this time it is from competing hospitals.

Trading this morning opened lower on the Sydney Futures Exchange. The December share price index contract was 14 points lower at 4637.

The Australian and New Zealand Banking Group (ANZ) is set to face a $50 million class-action lawsuit filed by an estimated 27,000 ANZ account holders in the Melbourne Federal Court on Wednesday.

The Australian currency hit a fresh 25-month high on Wednesday noon, following talks the Federal Reserve might reinvigorate stimulus measures to aid the ailing US economy.

The Australian currency strengthened more than one US cent to a 25-month high on Wednesday after the US Federal Reserve signalled it might engage in another round of quantitative easing.

The Australian bourse ended slightly higher on Wednesday after a rollercoaster trade in which profit-taking impacted on gains led by offshore sentiment.

The Australian Parliament would likely change its tact on carbon emissions in the next three years.

BHP Billiton Ltd has acknowledged that the global economy is on its way to recovery but the giant resources company maintained that spots of fragility still exists as it added that encouraging economic prospects in Asia give the mining firm a positive outlook for more growth in the years to come.

Air New Zealand Ltd decried the recent decision of the Australian Competition and Consumer Commission (ACCC) to block the carrier’s proposed alliance with Virgin Blue Holdings Ltd, emphasising that the competition watchdog’s move is a threat to its existence.

National Australia Bank Ltd (ASX:NAB) said on Wednesday it expects the Reserve Bank of Australia will lift official cash rate from 4.5 to 4.75 per cent in October, rather than early next year.

Utility investment firm Spark Infrastructure Group (ASX: SKI) said on Wednesday that it has launched capital raising of up to $295 million that the company would utilise in paying off debts of up to $200 million and fund its $85 million equity investments.

South Australia's Davenport Aboriginal community had to turnover its housing leases to the State Government.

Heritage conservation group National Trust lost in its court battle against the redevelopment of the historic Windsor Hotel of Melbourne.

Mineral and metal explorer Diatreme Resources Ltd (ASX: DRX) announced on Wednesday that it has entered into a joint partnership with fellow Aussie miner Image Resources NL (ASX: IMA) following the agreement that the company sealed last month with a Chinese firm to develop the Cyclone and Cyclone Extended heavy mineral sand deposit in Western Australia.